Zacks Investment Research downgrades Heartland Financial USA (NASDAQ: HTLF) to hold

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Heartland Financial USA (NASDAQ: HTLF) was downgraded by Zacks Investment Research from a “buy” rating to a “custody” rating in a note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Heartland Financial USA, Inc. is a multi-bank holding company operating through bank subsidiaries in the states of Iowa, Wisconsin, Illinois, and New Mexico and a cash subsidiary. Savings Bank in Iowa. Subsidiaries provide full service retail banking. Deposit products include chequing and other demand deposit accounts, savings accounts, money market accounts, individual retirement accounts and other term deposits. credit. “

Shares of Heartland Financial USA traded down $ 0.14 in Friday’s session, reaching $ 46.88. 62,778 shares of the stock traded hands, compared to its average volume of 166,978. The company has a market cap of $ 1.98 billion, a price / earnings ratio of 9.73 and a beta of 1. , 33. Heartland Financial USA has a 52 week low of $ 28.37 and a 52 week high of $ 54.03. The company has a leverage ratio of 0.13, a current ratio of 0.65, and a quick ratio of 0.65. The company has a fifty-day simple moving average of $ 46.26 and a two-hundred-day simple moving average of $ 48.55.

Heartland Financial USA (NASDAQ: HTLF) last released its quarterly results on Sunday, July 25. The bank announced EPS of $ 1.41 for the quarter, beating Thomson Reuters consensus estimate of $ 1.28 by $ 0.13. Heartland Financial USA reported a return on equity of 10.65% and a net margin of 28.82%. On average, research analysts forecast Heartland Financial USA to post earnings per share of 5.06 for the current fiscal year.

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A number of institutional investors and hedge funds have recently increased or reduced their holdings in HTLF. BlackRock Inc. increased its position in Heartland Financial USA by 37.0% in the first quarter. BlackRock Inc. now owns 3,613,043 shares of the bank valued at $ 181,590,000 after acquiring an additional 975,006 shares in the last quarter. Millennium Management LLC increased its stake in Heartland Financial USA by 80.1% in the first quarter. Millennium Management LLC now owns 485,362 shares of the bank valued at $ 24,394,000 after purchasing an additional 215,855 shares during the last quarter. The New York State Common Retirement Fund increased its stake in Heartland Financial USA by 53.9% in the second quarter. The New York State Pooled Retirement Fund now owns 517,252 shares of the bank valued at $ 24,306,000 after purchasing an additional 181,195 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Heartland Financial USA by 12.4% in the second quarter. Thrivent Financial for Lutherans now owns 1,486,884 shares of the bank valued at $ 69,868,000 after purchasing an additional 163,998 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in Heartland Financial USA by 76.8% in the first quarter. Prudential Financial Inc. now owns 365,394 shares of the bank valued at $ 18,364,000 after purchasing an additional 158,766 shares in the last quarter. Institutional investors hold 59.42% of the company’s shares.

Heartland Financial USA Company Profile

Heartland Financial USA, Inc. operates as a bank holding company. The company provides commercial banking services. It also carries out community banking activities. The company was founded in 1981 and is headquartered in Dubuque, IA.

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For more information on Zacks Investment Research’s research offerings, visit Zacks.com

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